The probability of the increase remains.
Presumably, the higher level wave C is still developing, and within it the first wave i of C is being formed. At the moment, correction is being completed as a wave (iv) of i of C. If the assumption is true, then the price growth will continue to the level of 114.00. The level of 112.19 is critical for this scenario.
Main scenario
Long positions will become relevant above the level of 112.19 with the target at 114.00.
Alternative scenario
Breakdown of the level of 112.19 will allow the pair to continue the decline to the levels of 111.40-110.95.
Presumably, the higher level wave C is still developing, and within it the first wave i of C is being formed. At the moment, correction is being completed as a wave (iv) of i of C. If the assumption is true, then the price growth will continue to the level of 114.00. The level of 112.19 is critical for this scenario.
Main scenario
Long positions will become relevant above the level of 112.19 with the target at 114.00.
Alternative scenario
Breakdown of the level of 112.19 will allow the pair to continue the decline to the levels of 111.40-110.95.